Lower Rates for Many Homebuyers, Plus Help with the Downpayment
The House Key Opportunity Program is a great choice for homebuyers with lower incomes, especially those buying in certain areas. Plus, every loan comes with downpayment assistance.
The House Key Opportunity Program is a great choice for homebuyers with lower incomes, especially those buying in certain areas. Plus, every loan comes with downpayment assistance.
Am I eligible for House Key Opportunity?
I'm a first-time homebuyer or have not owned a home in the last three years
I’m not a first time homebuyer, but can buy in a Target Area
My income is under the eligible limit for my location and family size
How to get started
Our free homebuyer education seminars answer your questions and help you prepare you for homeownership, with no commitment and at no cost. You can also connect with a loan officer first, and find out how to qualify for a home loan.
The House Key Opportunity Program is only available to applicants using the following downpayment assistance:
- Opportunity
- HomeChoice Program
- ARCH East King County
- Veterans
- Bellingham
- Purchasers using community second programs previously used with the Opportunity program. OR
- Household purchasing never-occupied new construction or in a community land trust (with or without the above downpayment assistance programs)
1. Take a Free Homebuyer Class!
2. Contact a Commission-Trained Loan Officer.
3. Once you know how much you qualify for, it is time to look for a home.
These Participating Lenders have a proven track record of closing our loans.
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1st Security Bank of Washington American Pacific Mortgage Axia Home Loans Banner Bank Bay Equity LLC Canopy Mortgage Cardinal Financial Churchill Mortgage CMG Mortgage Community First Mortgage Cornerstone Home Lending CrossCountry Mortgage DAS Acquisition DHI Mortgage Diamond Residential Mortgage Directors Mortgage Envoy Mortgage Everett Financial Evergreen Home Loans Fairway Independent Mortgage Guaranteed Rate Global Federal Credit Union Guild Mortgage Highlands Residential Mortgage HomeBridge Financial Services HomeSight HomeStreet Bank International City Mortgage Ixonia Bank LeaderOne Financial |
LoanDepot Lower LLC Luminate Home Loans Mann Mortgage Movement Mortgage Mutual of Omaha Mortgage New American Funding NewRez NFM Lending Northpointe Bank Nova Financial On Q Financial Paramount Residential Mortgage Group Premier Lending Premier Mortgage Resources Primary Residential Mortgage Prime Lending Priority Home Lending Revolution Mortgage Summit Funding Summit Mortgage Sunflower Bank Synergy One Lending T2 Financial The Money Store Umpqua Bank US Bank Wallick & Volk Wheatland Bank Willamette Valley Bank |
Questions Regarding Participating Lenders
Federal Subsidy Recapture Tax
The Opportunity Program uses the proceeds of tax-exempt bonds to provide first-time homebuyers the benefit of a lower interest rate. Should the home financed using the Opportunity Program be sold or otherwise disposed of within nine years of purchase, this benefit may be “recaptured”. Please review this important information.
When will these funds become available?
Funding for the House Key Opportunity Program comes from the sale of tax-exempt bonds. Funds will be available on a first-come, first-served basis. If you have questions, please call us at 800.767.4663 or email info@heretohome.org.
1. Freddie Mac HFA Advantage program – High Balance Loans not available.
2. FHA, USDA, VA and FANNIE programs – High Balance loans above $766,500 and up to $977,500 are allowed in High Cost Areas. No additional fees apply.
Click here to see 2023 80% AMI Limits – Conventional Loans
*Current loan amount may not exceed $766,500 in any county for Freddie Mac HFA Advantage.
Fannie Mae “HFA Preferred” and Freddie Mac “HFA Advantage” Pricing Has Changed
Beginning February 12, 2020, Freddie Mac has made changes to HFA Advantage that mirrors the changes Fannie Mae made to HFA Preferred on September 5, 2019. . Pricing benefits are limited to borrowers with incomes at or below 80% AMI. Our rate sheets reflect this change with higher pricing for borrowers above 80% AMI for both Fannie and Freddie. For more details, see our November 21, 2019 Program Announcement.
**Rates subject to change without notice. Homebuyers interested in applying for financing should contact one of the Commission’s Participating Lenders. The Commission does not lend money directly to consumers. Participating Lenders pre-qualify consumers and originate all mortgage loans. This is not an advertisement for credit as defined in Regulation Z. Contact a Commission Participating Lender for Annual Percentage Rate (APR). This is not a commitment to lend. Visit heretohome.org for more information.
***Further fees may apply. Contact your participating loan officer for further information.
Maximum Annual Household Income Limits
House Key Opportunity serves people whose maximum annual household income is under the following limits. In target areas, those limits are higher.
See our Target Areas Map to learn more.
Effective 09/02/2022
COUNTY
NON-TARGET AREA (1-2 PERSONS)
NON-TARGET AREA (3+ PERSONS)
TARGET AREA (1-2 PERSONS)
TARGET AREA (3+ PERSONS)
Am I in a Target Area ?
Maximum Acquisition Cost Limits
Borrowers purchasing in Target areas are encouraged as the Borrower does not need to be a first-time homebuyer. See Target Areas for more information and maps.
Effective 05/31/2022
COUNTY
NON-TARGET AREA
TARGET AREA
Looking for a Commission
Approved Lender
Frequently Asked Questions
DISCLAIMER: The sponsorship by the Commission of a homebuyer education seminar does not endorse a person, business practice, product or service other than those of the Commission.
Disclaimer: The Commission does not endorse a person, business practice, product or service other than those of the Commission.